Wed, May 11, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with agencies

TAIEX drops 0.14 percent

The TAIEX closed lower yesterday as water shortage concerns triggered selling primarily in the electronics sector, a major water consuming industry, dealers said.

The TAIEX fell 12.20 points, or 0.14 percent, to 9,023.28, after moving between 9,007.93 and 9,055.91, on turnover of NT$98.24 (US$3.4 billion).

Central bank sells bonds

The central bank sold NT$30 billion of 30-year bonds at a yield of 1.889 percent at an auction yesterday.

The sale of the securities maturing in February 2041 attracted bids for 1.8 times the amount of debt on offer, the bank said in a statement.

Meanwhile, the bank issued NT$151.85 billion in certificates of deposit yesterday, more than the NT$119.3 billion that matured, the central bank said.

The bank sold 30-day certificates at 0.81 percent, 91-day certificates at 0.86 percent and 182-day certificates at 0.97 percent, according to the bank’s statement.

Compal sees revenues fall

Compal Electronics Inc (仁寶電腦), the world’s second-largest contract maker of laptops, yesterday posted revenues of NT$56.7 billion for last month, marking a decline of 15 percent month-on-month and a drop of 21 percent year-on-year.

Total revenue for the first four months was NT$220.6 billion, down 24 percent from last year, according to a company statement.

The drop in sales was because of reduced orders from anchor client Acer Inc (宏碁), which is undergoing restructuring.

Cathay Financial posts profit

Cathay Financial Holding Co (國泰金控), the nation’s largest financial services provider by assets, yesterday reported a net income of NT$1.07 billion for last month, reversing a net loss of NT$760 million in March, the company said in a statement.

Flagship unit Cathay Life Insurance Co (國泰人壽) registered a net profit of NT$250 million last month, although gains by the New Taiwan dollar continued to weaken earnings, the statement said.

The company’s banking arm, Cathay United Bank (國泰世華銀行), generated NT$980 million in net income last month, the statement said.

Cumulative net earnings totaled NT$2.96 billion for the first four months, translating into NT$0.29 earnings per share, the statement added.

Yulon sales slip

Yulon Motor Co (裕隆汽車), one of the nation’s leading automakers, yesterday posted a sales decline of more than 30 percent for last month.

The firm did not elaborate on what caused the decline.

Yulon recorded NT$2.332 billion in revenues last month, down 34.4 percent from March, but up 9.07 percent from a year earlier.

Total sales for the first four months of this year grew 55.91 percent year-on-year to NT$14.669 billion.

Powerchip’s debt ratio is 74%

Powerchip Technology Corp (力晶科技), the nation’s second-biggest maker of DRAM chips, said its debt ratio was 74 percent as of the end last month, the Hsinchu-based company said in an exchange statement yesterday.

Nanya Technology Corp (南亞科技), the nation’s top DRAM maker, had NT$21.4 billion cash and cash equivalent as of the end of last month, the Taoyuan-based company said in a separate exchange statement.

NT dollar up against greenback

The NT dollar rose against the US dollar yesterday, adding NT$0.025 to close at NT$28.725 against its US counterpart.

Turnover totaled US$841 billion during the trading session.

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